2020-22 Gregory StSan Diego, CA 92104

Property Details for 2020-22 Gregory St

Year built

1940

Property size (Sq ft)

1,775 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

Exceptional investment opportunity: a two-unit multifamily property in San Diego's desirable South Park neighborhood. This property consists of two free-standing homes on a single 4,737 sq ft lot, offering significant rental upside. The front home, approximately 750 sq ft, features two bedrooms and one bathroom, a private yard, and laundry facilities. The rear home, approximately 1,000 sq ft, boasts three bedrooms, one bathroom, a private balcony, and laundry hookups. Both homes benefit from stunning canyon views and a peaceful cul-de-sac location. Built in 1940, the property is classified as Class B and offers a total of 1,775 sq ft of net rentable space. Currently, the occupancy rate is 50%, generating a current NOI of $10,846. However, a pro-forma analysis projects a significantly higher NOI of $58,570 and a 4.51% cap rate, reflecting the substantial value-add potential. The property includes four parking spaces and is zoned RS 1-7. This fee-simple ownership opportunity presents a compelling investment for both owner-users and investors seeking to capitalize on the strong San Diego rental market. The asking price is $1,299,000, or $649,500 per unit. The property's location within South Park, known for its tree-lined streets, walkable business district, and historic architecture, further enhances its appeal.

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.727

Longitude

-117.122

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].